I received the email below from Joe Stern:
Long story short, after we spoke in July we experienced some delays with the interim manufacturer and decided to forego releasing the interim GluCurve CGM hardware model in order to move forward with our long term CGM hardware model that we are currently using and will eventually be adapted for human use. I can’t go into the specifics but there are many advantages for ALRT, shareholders, and our customers ranging from higher margins to more advanced hardware and more that will be released in the near future. We believe the current GluCurve CGM hardware model was well worth the delay because it also solves all the many problems of trying to use a human CGM on pets and the popular human CGM being used off label is our only competition if you can call it that.
We have previously announced numbers regarding diabetic pet populations and over the past few years the growth rate of turning to a human CGM to manage diabetic pets has skyrocketed in our estimates due to the desperate need for a better way of monitoring then in-clinic glucose curves.
I hate to sound like a broken record, but we truly believe we are at the finish line and will be releasing Canadian sales information and US relaunch information along with other updates in the coming weeks and over the next month or two. We are also looking at a number of major partnerships with well-known companies that we have placed on the sidelines until we have fully relaunched that we expect to move forward with in Q2-Q3. If you take a look at the updated investor deck you’ll also see that we expect to be cashflow positive in the coming months.
We sympathize with our loyal shareholders especial with the frustration over the low stock price, but we do not believe putting out PRs stating what we will be doing will bring value and have switched to a strategy of announcing what we have completed as opposed to what we have planned. Please be patient over the next month or two and allow us time to show shareholders and the rest of the market what we have been busy executing on.
Please feel free to share this information with fellow shareholders.
V/r
Joe Stern
Head of Animal Health
Joe.Stern@alrt.com
